Skip to Content

Under pressure, Powell says Fed to revamp its trading rules

KIFI

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said the central bank will overhaul its financial ethics policies in response to growing questions about investing and trading decisions by high-ranking Fed officials that raise potential conflicts of interest. Powell stopped short of saying explicitly that the trading moves were inappropriate. And he provided no details about what the Fed might do or how it would conduct its ethics review. The issue arose after it was revealed that Robert Kaplan, president of the Federal Reserve Bank of Dallas, had traded millions of dollars’ worth of individual stocks at the same time that the Fed was discussing and taking extraordinary measures to boost the economy.

Article Topic Follows: AP National

Jump to comments ↓

Author Profile Photo

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content